Global Blood Processing Devices and Consumables Market Report and Forecast 2024-2032

Blood Processing Devices and Consumables Market Outlook:

The blood processing devices and consumables market size was valued at USD 47.8 billion in 2023, driven by increasing infectious diseases among people and increasing FDA clearance for new solutions. The market size is anticipated to grow at a CAGR of 7.7% during the forecast period of 2024-2032 to achieve a value of USD 92.8 billion by 2032.

Blood Processing Devices and Consumables Market Overview

The market growth is expected to witness significant growth driven by technological advancements. For instance, recent advancements in blood collection technology by YourBio Health's TAP® Micro Select device receiving CE Marking have marked a significant step towards transforming blood processing. This remote, capillary whole blood collection technology not only streamlines the process but also holds promise in expediting the approval of vital treatments through enhanced efficiency in clinical trials. The approval of this innovative device has created new opportunities for broader applications in home-based testing, revolutionizing diagnostics, and wellness products.

This blood processing devices and consumables market growth is driven by the rising prevalence of infectious diseases and the growth of the geriatric population, which is more vulnerable to medical conditions requiring transfusions. The market is expected to be driven by the rising demand for blood transfusions and surgical interventions leading to significant growth in the market. As the incidence of infectious diseases increases, the need for safe and efficient blood processing equipment and supplies is also expected to increase, boosting the market growth. This includes products such as blood bags, filters, and centrifuges.

With an increase in the geriatric population, the risk of medical conditions from blood transfusions also increases. These conditions can include surgeries, chronic diseases, and cancer treatments. The increasing demand for the devices involved in blood transfusion and other procedures is a major factor driving the market growth. Healthcare facilities and blood banks are required to have the necessary equipment to process and store blood products to meet this growing demand. As a result, the growth of the market is expected to witness an upward trajectory in the forecast period.

Initiatives for Awareness to Aid the Blood Processing Devices and Consumables Market Demand

In August 2023, AABB published a new Guide to the Use of Blood Warming Devices, the Association’s latest publication designed to support members in their professional growth. This resource, developed by members of the AABB Transfusion Medicine Section Coordinating Committee, provides an overview of blood-warming technologies and highlights the advantages of the devices. It also provides information on indications for use, contraindications, warnings, and administrative aspects of the technologies.

 
Such comprehensive resources by respected authorities like AABB aim to educate healthcare professionals on the benefits, applications, and safety considerations of blood-warming technologies. This awareness may further enable healthcare professionals to increase adaptation of blood warming technologies, further aiding the blood processing devices and consumables market size.

Rising Research Activities to Bolster the Market Growth

In February 2023, a new blood product combining red blood cells and plasma in one bag was associated with better survival from a penetrating major trauma injury, a new study involving Queen Mary University of London has found.  This innovation aligns with the growing demand for more efficient and effective blood products in emergency medical situations. Additionally, this breakthrough might encourage further research and development within the industry, fostering innovation in blood processing technologies to accommodate the production and utilization of these advanced blood products and further contribute to the blood processing devices and consumables market share.

FDA Approvals to Provide Significant Push to the Market

The market is further expected to be driven by several FDA approvals of the innovations in the market. For instance, Becton Dickinson's FDA clearance for the BD MiniDraw Collection System offers a less invasive way of obtaining blood samples, exhibiting a shift in traditional blood collection methods.  This innovation is significantly expected to benefit various sectors which will enable convenient access to crucial lab tests for chronic conditions like hypertension and high cholesterol, further contributing the blood processing devices and consumables market share. The introduction of revolutionary devices enhances the methods for blood collection, advancing clinical trials, and the approval process for new treatments, fostering market growth. The combined impact of these technological advancements indicates an upward trajectory for market growth in the forecast period.

Blood Processing Devices and Consumables Market Segmentations

Market Breakup by Type

• Blood Processing Devices
  • Blood Bank Freezers
  • Blood Grouping Analyzers
  • Blood Warmer
  • Blood Cell Processors
  • Other Blood Processing Devices

• Blood Processing Consumables
  • Blood Bags
  • Blood Lancets
  • Vials
  • Blood Administration Sets
  • Others

Market Breakup by End User

• Hospitals and Clinics

• Diagnostic Laboratories

• Other End Users

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Blood Processing Devices and Consumables Market Regional Analysis

The United States is leading the market growth and is expected to keep leading the market in the forecast period as well. The dominance of the region can be attributed to the high focus on technological advancements and research and development. The market growth is also propelled by the presence of a well-established healthcare infrastructure consisting of state-of-the-art hospitals, diagnostic laboratories, and blood banks. The growth of the region can also be credited to the presence of prominent key players in the region.

In April 2023, Baxter International Inc. (NYSE: BAX), a US based leader in solutions to advance surgical innovation, revealed multiple new additions to its surgical portfolios at the Association of periOperative Registered Nurses (AORN) Global Surgical Conference & Expo 2023. These innovations include the launch of the new Baxter Patient Warming system, the unveiling of the Helux Pro Connected Surgical Light, and the launch of Floseal + Recothrom flowable hemostat, all of which are on display in Baxter’s AORN booth #2027.  This launch indicates a commitment to innovation and addressing unmet needs in the surgical field. Devices like these often use specific bioactive materials aiding the maintenance of patient normothermia. Such advancements often boost market growth by adapting technological innovation and meeting evolving healthcare demands.

Blood Processing Devices and Consumables Market: Competitor Landscape

In March 2023, Roche (SIX: RO, ROG; OTCQX: RHHBY) announced today that it has entered a collaboration with Eli Lilly and Company to support the development of Roche’s Elecsys Amyloid Plasma Panel (EAPP). The EAPP is an innovative blood test that aims to facilitate the earlier diagnosis of Alzheimer’s disease.

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Abbott Laboratories

• Becton Dickinson and Company

• Roche Holdings AG

• Danaher Corporation

• Immucor, Inc.

• Terumo Corporation

• Haemonetics Corporation

• Danaher Corporation

• Grifols International

• Thermo Fisher Scientific, Inc.

• Teleflex Incorporated

• Thermogenesis Holdings, Inc.

• Maco Pharma

• Biomerieux SA

Please note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report